In 2000, Illinois’ pension systems stood as healthy as they’d been in 30 years, with a funded ratio of 75 percent and less than $16 billion in unfunded pension liabilities.

Thirteen years later, pension debt has increased six-fold and Illinois’ retirement systems are in a state of disrepair unmatched elsewhere.

We explain step-by-step how two recessions and a decade of systemic underfunding and over-borrowing by state government conspired to put Illinois in the path of a perfect storm of financial disaster. Check out our timeline and then join us in demanding a solution.